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December 21, 2014

December 21, 2014

Posted by **Monica** on Tuesday, February 22, 2011 at 6:46pm.

D(p)= 2000-60p

S(p)=460+94p p is the price in dollars

a) find those values of p for which demand exceeds supply

2000-60P > 460 + 94p

2460 > 154p

$15.97 > p

b) find those value of p for which demand is less than supply

2000-60P < 460 + 94p

2460 < 154p

p > $15.97

Second problem

The yearly Egyptian production of oil O(t) in millions of barrels, t years after 2000 can be approximated by,

O(t)=-40.4t +2159

Using inequality, determine the years for which the production will drop below 1750 million barrels.

This is what I have and know I have set it up wrong.

o(t)=-40.5t + 2159

O(t)>1750

-40.5t>1750-2159

-40.5t> -409/-40.5

I do not feel good about completing this...think I have it wrong

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